On Friday the dollar rallied strongly and gold dropped about $50, a huge move. One day does not reverse the bull market trend for the metals that started in July, but the next few trading days will be important to watch. Gold needs to hold above $1140. As I write this update, gold has bounced off Friday's lows and traded mostly between $1150 and $1160 in early morning hours and just dropped below $1150 testing critical support. If gold closes below $1140 then I think it will next find support around $1100. Likewise, I would be a cautious buyer if gold were to convincingly close above $1175. That would probably indicate that we'll see gold make new highs. There is still a lot of speculative interest in gold and silver. This rally will continue as long as the metals don't drop below their 6 month trend support, currently around $1100 for gold and $17.50 for silver. Gold is the metal to watch, as silver has been more or less following gold's moves, but with uncharacteristicly less volatility. I'm still bullish long term but I'm watching out for a surprise dollar rally that could put the precious metals bull run on hold for a few months.